Central Bank cancels charges on some MoMo transfers, gov’t supports 172 businesses and more
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Central Bank cancels charges on some MoMo transfers, gov’t supports 172 businesses and more

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Gov’t, financial institutions give 172 companies GHC1.7 billion as financial support

The Ministry of Trade and Industry has teamed up with some financial institutions to provide support for companies under the One District One Factory Initiative.

YEN.com.gh has learned that 172 companies have enjoyed GHC1.7 billion as part of the government’s industrialization agenda.

Shedding light on the details of the package, the sector minister, Alan Kyeremanteng, explained that the money was channeled through a private finance initiative (PFI) in the form of interest subsidies or counterpart financing.

READ ALSO: Coronavirus: World leaders call for an end to fake information on WhatsApp

Coronavirus: Bank of Ghana releases guidelines for all financial institutions in Ghana

The Bank of Ghana (BoG) has released a statement in relation to the coronavirus which has infected people and led to the loss of lives all over the world.

The statement, released on Monday, March 16, 2020, gave the assurance that measures have been implemented to assess the effect of the coronavirus on the economy.

It added that a three-day Monetary Policy Committee (MPC) meeting has been fixed in order to examine the situation and introduce directives on the way forward.

Bank of Ghana cancels charges on GHC100 mobile money transfers and below for 3 months

The Bank of Ghana (BoG) has revealed that mobile money transactions that are valued at GHC100 and below would attract no charges.

The directive is expected to last for three months and is subject to review, the Central Bank indicated.

The directive takes effect from Friday, March 20, 2020, and is designed to help with the fight against the coronavirus epidemic.

Coronavirus: Bank of Ghana’s MPC reduces policy rate to 14.5%

Bank of Ghana’s Monetary Policy Committee (MPC) has reduced the policy rate to 14.5%, YEN.com.gh has learned.

The reduction is a 150 basis point reduction in the rate, which was initially 16% and remained unchanged for a long time.

The policy rate is the rate at which the Bank of Ghana lends to commercial banks; it also helps to determine the rate which customers would pay on loans from banks.

OVER THE WEEKEND:

A top New York surgeon warns that the coronavirus has 'breached' hospital walls and infections could peak in 22 to 32 days

One of New York City's top surgeons issued a number of stark warnings in recent days about surging numbers of coronavirus patients and heightened risks to frontline healthcare workers.

Dr. Craig Smith, the surgeon-in-chief at New York-Presbyterian Hospital/Columbia University Irving Medical Center and the chair of Columbia University's Department of Surgery, sounded the alarm Friday about projections that the hospital system could "reach peak COVID-19 volume within 22-32 days."

Twitter prioritizes blue-check verifications to confirm experts on COVID-19 and the novel coronavirus

Twitter has announced that it is mobilising the badge system to help surface and signal more authoritative and verified voices that can provide “credible updates” on the topic of the coronavirus, and made a general call out for people that are experts to get all of their information up to date, including associating the word addresses with their accounts, to speed up this process.

READ ALSO: Coronavirus: Latest Fitch report shows that Ghana's growth rate may fall to 6.2%

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